Originally Posted by
LeineLodge
So let's say the worst happens. What will our profit sharing pay out? Yup. How long will it take for them to come after pay rates? In the meantime I'm cashing those checks.
The conversion of PS provides downside protection and also keeps us participating in the upside if they remain profitable. I have no problem with how they structured the deal. It basically guarantees, as far as my bank account is concerned, that DL is going to make an$6B profit going forward. If they make less we look smart for converting at higher than 1:1. If they make more...we have it at 1:1 and are back into the 20% range again. It's the same math as 2012 and I have zero buyers remorse on that deal.
again this is assuming its take this deal or bust. nobody is saying the money is terrible, its just not good for what youre getting. The answer lies somewhere on this super fancy scale:
<2015TA-------------------TA2-------------------------------->NMB
The 2nd TA will get you the money youre happy with if not more, and get you QOL gains instead of what you give up. They threw it out there to see if you'd bite. You bit, but you can free yourself from the hook before July 10th
